Elizabeth Machula - Top 1% Agent for Toronto Condo Sales 2008, 2009 - ReMax Hall Of Fame -

Chris Dawson - Top 1% Agent for Toronto Condo Sales 2008, 2009

Condo Market Statistics

Market Holds Steady...

In June there were 1029 condos available for sale in the C01 district of which 349 sold for a ratio of 0.34. This was in balanced territory as was the previous month. What we see on the market is that sellers looking to set new price levels for their suite are treading water while those priced accurately to market value are selling within about 20 days. To demonstrate the number of condos available I wanted to include the below graph this month:

Typically the month of June has somewhere between 600 -700 suites available for sale. At 1029 we're around 1.5 times what we've seen in the past 5 years. I believe this is due to the amount of new construction completing. The buyer demand has been quite consistent over the past 5 years with the market being resilient to any significant price drops.

The Listing to Sales ratio is the best indicator of the future direction of prices. It's simply a supply & demand measurement. If there's more demand than supply, then prices increase and vice-versa.

The median price for June was $340,000, down about 4% from May's median price of $355,000. As you can see on the above graph, this level of change is not abnormal from month to month. The highest median price of $364,350 was in November 09 which has since dropped about 6.5%. As new construction is absorbed, as long as the buyer's don't disappear we should expect prices to remain quite stable. Buyer's are finding some good values out there and Seller's are have to price reasonably. Some areas are affected more than others. Cityplace, which has a lot of new construction becoming available is affecting the resale of it's immediate neighbours. There's just so much becoming available in that small pocket, you need to offer good value.

If you're considering selling, buying, or would just like to see some past sales in your building, just fill out a form on our website and we'll be in touch with you shortly.

No one offers you the condominium education about Toronto condos and lofts like Elizabeth and Chris. Whether you're looking for a new condo for sale in Toronto, a good price on a building you like, or to find a great loft, their client's testimonials speak for themselves. This website allows you to learn about over 450 condos and lofts through their Neighbourhood Searches, to see up to date prices in their Listings section as well as to browse other Local Listings. This website gives you free access to over 12,000 images and floorplans as an example of the extent of their knowledge and service. So whether you're interested in downtown Toronto, the Harbourfront, or just a specific building like Tip Top Lofts or 954 King St W, they take the time to educate you on all your options. When it's time to place your condo for sale, it's all about exposure and negotiation skills, give them an oppourtunity to explain more. Please don't hesitate to ask your buying and selling questions, give them a call or send them an e-mail.

Statistics apply to district C01 condo sales.